Long Beach Accelerator’s Inaugural Cohort Features Wide Range of Promising Businesses
LBA’s second cohort application process is open until April 2; the program delivers innovation and growth for Southern California’s entrepreneurial ecosystem.
LONG BEACH, CA – With the Long Beach Accelerator’s (LBA) exciting kickoff on February 15, 2021, the organization is announcing the full inaugural cohort to highlight its wide range of innovative startups. From management software for parking facilities to a unique mobile wallet that incentivizes buying local, the seven early stage companies selected each have uncommon potential for sector-defining growth and success.
The LBA’s diverse first class of startups on joining the Accelerator:
Delphire Tech: "We're ecstatic to be part of the LBA's inaugural cohort. The talent and expertise of our mentors and fellow cohort companies is invaluable in pursuing our mission to reduce the number and severity of wildfires through our game-changing remote monitoring solutions."
Evolectric: “We are humbled to have been chosen to take part of the inaugural cohort of LBA and to be surrounded by other exceptional companies that are innovative and mission driven. Evolectric is a California-based technology platform company specializing in electrified transportation and battery technologies. By developing and integrating electrified systems with technologies tailored around specific market-needs and circular economy principles, we increase adoption rates in and minimize cost entry barriers for emerging markets primarily located in South America, Southeast Asia, and Africa.”
Localight: “Only a few weeks into LBA's inaugural cohort and I can identify significant value. Direct benefits include being paired with an incredible mentor, Maryam Mahdaviani, VP of Product at Honey. She was there when Ebay acquired them for $4B. Her insights and support are invaluable. She's a delight to work with, she understands our market, our mission and our strategy. When she talks, we listen. And take notes."
Ownors AI: "We are so happy to have the Sunstone LBA Fund as an investor and to be a part of LBA's inaugural cohort of category-defining startups. The support and expertise has been phenomenal and critical as Ownors continues to create value for our fast-growing community of indie artists, creatives, and entertainment industry professionals through our mentoring, payments, and micro-advances products."
ParkPlace: “The value that we have received from LBA goes far beyond the capital investment and resources. ParkPlace enables parking operators to maximize the value of each stall by integrating and consolidating all the fragmented technologies. This has a large impact on their bottom line while also contributing to the future of smart cities. Long Beach Accelerator is amplifying that impact.”
Solar View: “As a long-time member of the LB tech scene, I am excited that our city is finally going to have some local venture capital to invest in some of the amazing tech startups here in Long Beach. Our company SolarView is bringing augmented reality to every aspect of the solar industry, and we are very happy to be part of the LBA's inaugural cohort.”
StoryBolt: “StoryBolt is a collection of dedicated diversity, equity, and inclusion practitioners and passionate storytellers. We use the power of storytelling through documentary films and facilitated discussions to enable impactful conversations that unpack various issues that are core to building a sustainable and inclusive organizational culture. We are consistently growing and so we are thrilled to be part of LBA’s inaugural cohort, surrounded by so much talent and expertise.”
Throughout the first three months of the program, Accelerator participants are involved in weekly workshops and mentorship that center on scalable strategy, sales, and operations. Members of each cohort have already made remarkable strides in solidifying themselves within Long Beach’s innovative tech ecosystem.
Once the cohort completes its first three months of training, its fourth and final month will focus on developing an exit strategy and preparing for demo day, where they will have the opportunity to secure additional seed funding for continued growth and expansion.
“This diverse first cohort is already showing their mettle and affirming the reasons they were selected. From $2 million term sheets to over $700,000 in first-quarter revenue to inking important strategic partnerships, they are gaining traction in the market--and quickly” stated Andrea White-Kjoss, Executive Director of the Long Beach Accelerator. “Applications for the second cohort are open until April 2; we encourage founders to apply now.”
About the Long Beach Accelerator
The Long Beach Accelerator is not your typical accelerator. It was established with the entrepreneur in mind with full support from the city, private investors, and CSULB. Program participants have access to capital to support them through acceleration and expansion. Cohort members have real government access to help navigate through the regulatory maze and provide resources and guidance at every level. They also have access to key university and industry partners and some of the largest markets in the world. The LBA is focused on providing exceptional vision and value to this ecosystem, and in seeking out and supporting companies founded by diverse entrepreneurs.
About Sunstone Management
Sunstone Management, with subsidiary Sunstone Venture Capital Fund, is a diversified private capital management and investment firm offering comprehensive wealth management solutions to high net worth clients worldwide, in particular U.S. new-immigrant families. Focusing on investments in U.S. based small businesses and lower middle markets, its offerings are carefully structured to meet targeted investor goals ranging from short term senior debt products to longer term, equity, growth capital, and venture capital investment strategies.
About the City of Long Beach
Home to approximately 470,000 people, the multiple award-winning and innovative City of Long Beach offers all the world-class amenities of a large metropolitan city while maintaining a strong sense of individual and diverse neighborhoods nestled together along the California coast. As a full-service charter city, Long Beach is home to the Queen Mary, Aquarium of the Pacific, several museums and theaters, a highly-rated school district, Long Beach Airport, the Port of Long Beach, as well as many award-winning City departments such as Health, Parks, Recreation and Marine, Development Services and more.
About CSULB Institute for Innovation & Entrepreneurship
The mission of the CSULB Institute for Innovation & Entrepreneurship (IIE) is to provide programming and guidance for innovators and entrepreneurs that leads to success. The IIE is a central hub for innovators and entrepreneurs in Long Beach, with programming and services to support long-term economic growth that is inclusive and sustainable for our diverse community.